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Silver Hoarding In 1961

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Libertad's Avatar
Canada
3692 Posts
 Posted 07/27/2011  2:22 pm  Show Profile   Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
Copper - base metal, measured by the pound, used only in trillions of pennies

Silver - precious metal, measured by the ounce (troy), used for dimes and up only

I can't see a huge future for hoarding copper because it's still being tied to the dollar (if it were not tied so, then they would not be hoarded for above-face-value - they would in fact BE money, but they are only instruments of money). Copper is used more in industry than as money, so I suspect that only if there were a global copper shortage then MAYBE your rolls of pre 82s will be worth something.


The longer they (bronze cents) stay in circulation, the better, I think. On average, isn't the cent the oldest circulating coin in the USA?
Pillar of the Community
United States
2168 Posts
 Posted 07/27/2011  2:47 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply

Nickels are 75 percent copper and 25 percent nickel and the intrinsic value is worth more than a nickel now. Yes I realize no melt allowed but that's how silver was as well Before it became a lot more valuable than face.
Valued Member
United States
302 Posts
 Posted 08/01/2011  03:43 am  Show Profile   Bookmark this reply Add mmerlinn to your friends list Get a Link to this Reply

Quote:
So, in keeping with the ever-cheaper US coinage philosophy, how soon can we expect to see aluminum coins?


I doubt that we will ever see aluminum coins. However, it is possible, and other countries have had aluminum coins in the past and maybe even today. And those coins look and feel like worthless junk, which they are.
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SDcoinguy's Avatar
United States
2424 Posts
 Posted 08/01/2011  08:51 am  Show Profile   Bookmark this reply Add SDcoinguy to your friends list Get a Link to this Reply
Waredu

in 1965 the prez said " dopnt hoard your silver" the same thing was the same now )silver=copper) silver was a base metal then.. and look what happened. ...
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Ed_B's Avatar
United States
4008 Posts
 Posted 08/01/2011  8:32 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
I doubt that we will ever see aluminum coins. However, it is possible, and other countries have had aluminum coins in the past and maybe even today. And those coins look and feel like worthless junk, which they are. - mmerlinn

I agree that aluminum coins feel like junk but aluminum is one of the most abundant elements in the Earth's crust, so it would make sense to use it for coinage. Its biggest problem is likely that the vending machine lobby would not like such light weight coins at all and would spend mucho dinero to see to it that they were not put into production. IIRC, they made a few aluminum pennies sometime back in the 1970s. These were shown to various congress critters, who were supposed to check them out and then return them. Somehow, they never seemed to have gotten returned. Imagine that. Congress critters with sticky fingers!
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 08/02/2011  05:37 am  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
Vending machines are by far the biggest users of coins. Why make coins they can't use?
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